Jefferies EMEA Market Minutes

By Meredydd Watts

PLEASE REMOVE

Daily insight into equity markets including research calls, factor & sector analysis, key macro events and trends ---- THIS IS NOT EQUITY RESEARCH: This material is a marketing com... more

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about Jefferies EMEA Market Minutes:

How many episodes does Jefferies EMEA Market Minutes have?

The podcast currently has 366 episodes available.

Jefferies EMEA Market Minutes episodes:

October 14, 2020 Wednesdays 14th Oct - SXXP unch
• Risk sentiment on a back-foot after hopes of an immediate fiscal deal have quite quickly diminished.
• Overnight in Asia the region was butting up against resistance level but failed to break through.
• STERLING weakened initially & FTSE exporters outperformed, as expectations of little developments in BREXIT talke but then turnaround was post BREXIT headlines. UK signals it won't walk away from EU trade talks immediately
• In terms of factors; contrasting with what we saw in the US overnight Value is outperforming +50bps
• COVESTRO CAP INCREASE: Overnight raised €447m, priced at €43.85, -0.9% -- proceeds to be used to partially re-finance the purchase of announced acquisition of resins biz from DSM
• M&A spex in US Oils aft hrs ConocoPhilips in talks to acq. Concho Resources ($8b mkt cap). Note: Conoco has been dropping hints about a potential M&A deal for months
...more
3min
October 13, 2020 Tues 13th Oct: Europe underperforms post a tech led rally in US. Defensive rotation theme
.
...more
6min
October 12, 2020 Monday 12th October - markets prepare for earnings and Brexit fun later in the week!
Recorded 11am Uk time / 6am GMT
* Europe trading +40bps - S&P futs slight outperfomer
* Weekend press busy with opinion pieces on US Fiscal spend, virus narrative, brexit and UK lockdowns - we give our view and market thoughts
* China and HK outperform off the back of weaker CNY with PBoC changing policy rules making it less expensive to short the CNY
* M&A headlines in focus, KPN +7% in the telcos on talk of PE interest
* We u/g SocGen to buy and the call fits with our overall bullish view of dividends returning to the Euro banks
* Finally out virtual UK Industrials conference kicks off tomorrow - speakers include Rolls Royce, Ashtead Balfour Beatty, G4S, Intertek, Mitie and Bodycote

THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research Please refer to Jefferies’ important disclosure via this link: www.jefferies.com/globaljefferiesllc
...more
7min
October 09, 2020 Friday 9th Oct
• Markets helped by news Pelosi and Mnuchin have restarted stim talks and that the administration is potentially open to a larger deal
• Equity positioning is light (our index shows positioning at +1.2 on a scale of -10 to +10), thus we could see a continuation of positive sentiment into the elections.
• overnight Asia was small down with the exception SHCOMP +2% playing catch up after Globen week holiday
• New this morning of "Donald Trump planning a rally tomorrow — supposedly 10 days since his diagnosis
• In terms of Sectors; Miners +2% outperforming as copper, Gold and Silver all + >1% as $ fades further this morning
• Pharmam and Retail slightly outperforming +50% After some co's raised guidance in the sectors including Novo Nordisk (+3%, ADR), Zalando (+7%), GN, Global Fashion Group (+9%) all raised guidance
...more
3min
October 08, 2020 Thursday 8th Oct - SXXP +60bpd
• Positive sentiment fueled by optimism that American lawmakers will reach a stimulus deal.
• Also driving Positive sentiment is Biden’s increasing lead in the polls is seen as reducing the chances of a close, and potentially messy election outcome. However after the Harris/Pence debate yesterday a CNN poll found that Harris won the debate 59% to 38%..
• In terms of Sectors... Its Banks and Travel & Leisure both leading
• Miners and Basic materials also underperforming despite slight uptick in Gold and silver on a weaker $
• focus today also on UK RETAIL/CONSUMER report & fade theme for a 2nd day running...this time IMPERIAL BRANDS opened +3% now unch. on day.
...more
3min
October 07, 2020 Wednesday 7th Oct - Europe unch, out performing the move in the S&P
• Europe is Unch on the day, outperforming the S&P futs which are -70bps from Eu close
• overnight Asia remained resilient.
• Volatility indices...especially the European ones...V2X is printing a buy signal today.
• consolidation in the banks after the significant move we saw yesterday
• Bev +50bps helped by DGE/ABI/HEIA/RI all +1-2% after our note this morning
• ABI BB ---- top pick in beverage research this morning... Testing 200dma to upside today
• Tonight is Pence vs Harris -- I think will be a pivotal moment for election
...more
3min
October 06, 2020 Tuesday 6th Oct - value continues to outperform, Banks helped by move in yields
• This morning the European core rates did not follow the steepening of the US curve. Bund yields moved higher but the curve failed to steepen.
• DBK +4% on the tape telling us once again that trading has remained strong
• GLE also +4% were out there not so long ago indicating that impairments are trending towards the lower-end of the range & capital to the higher-end. Starting to see how this Q3 could combine with all of the M&A noise/action to lift the sector off the floor.
• Telcos +1% are sustaining their rally after yesterday’s outperformance.. Thus supporting the continuation of the Value outperformance.
• At the bottom of the table are the tech and Pharma names both -1% - Tech underperformance comes as A house panel is investigating competition in the tech sector looking at reforms to block co.'s like Amazon/Apple from owning marketplaces and selling their own products on them
• Placing overnight - Kering sold $800m of its stake in Puma, looks like 4.6% discount at €74.50- they will retain 9.8% stake after placing - PUM is trading above placing price currently at 76.62
• Today, we have Powell (1540 London time) and Lane (1630 London time) addressing the NABE conference.
...more
5min
October 05, 2020 Monday 5th Oct - Europe +60bps, Value trader in Europe
urope is trading +60bps mirroring the move we saw in the S&P futures from Eu close Friday...
• The market seems to be paying attention (for now) to 'optimism' on Trumps health
• Brexit as negotiators begin on today for a two-week period of talks
• GBP moving higher which is causing the FTSE to underperform.
• Bonds generally softer this morning & US 10 year yield testing last week's highs.
• A lot of M&A to digest this morning
• In terms of Sectors not a clear risk on Skew more of a value trade as Banks +2%, Travel & LEISURE +2% and Autos +1.6%. Miners -30bps are the only sector down on the day.
• Autos Positive read across to Volvo +4% / Daimler - Sept net orders for heavy vehicles totaled 31,100 units, up 145% YoY, and +60% m/m, for SAAR of ~417K. Order activity accelerated in Sept as trucking companies have become more confident in the rally
• This week we see a number of Fed and ECB speakers, including Lagarde and Powell tomorrow and Lagarde also speaking on Wednesday.
...more
5min
October 02, 2020 Fri- Oct 2nd. Futures hit as Trump tests positive for corona virus ahead of key Non Farm payrolls
.
...more
7min
October 01, 2020 Oct 1st - sentiment cautious overnight. EU PMI data inline now await ISM.
.
...more
5min

FAQs about Jefferies EMEA Market Minutes:

How many episodes does Jefferies EMEA Market Minutes have?

The podcast currently has 366 episodes available.